Futures of Industry 5.0 - a scenario analysis

Industry 5.0 emphasises a shift towards an industrial model grounded in human centricity, resilience, and environmental sustainability, and hence interrelates three distinct policy objectives. In this light we ask how futures of industrial transformation from an industry 5.0 perspective unfold when we consider that there may be trade-offs between the different objectives of Industry 5.0. We present a multi-stakeholder and scenario approach where we start from an industrial policy concept, analyse how this policy concept fits with current developments of industrial transformation in order to identify firm practices and transformation challenges. The crosscutting nature of key trade-offs resulting in transformation challenges let us identify policy areas to address these challenges and strategic directions within these policy areas. The approach taken and presented in this article as well as its conditions for appropriate application together form the contribution of this conference paper.